Ampco-Pittsburgh reports preliminary Q2 EPS 5c-10c vs. 2c last year

Reports preliminary Q2 revenue $107M-$112M vs. $107.2M last year. CEO Brett McBrayer said, “As we expected, Q2 2024 earnings should improve sequentially versus Q1 2024 with the impact of the Q1 foundry fire in our Sweden plant largely behind us, along with sequential improvement in Air & Liquid Processing segment margins. We experienced a full-quarter benefit of the new machinery in our U.S. forged operation in Q2. Although we are still experiencing excess capacity in our European cast roll business relative to demand, this is consistent with our experience the last few quarters. We are committed to delivering returns on the recent investments we have made for improved results. At this point, outside of typical operating variations, we believe there are no new significant headwinds which would have a material adverse effect on our businesses.”